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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Rob S. who wrote (15621)	6/2/1999 2:33:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

Looks like Yahoo! pulled a press release out when it needed one... dailynews.yahoo.com

To: Rob S. who wrote (15621)	6/2/1999 3:09:00 PM
From: pater tenebrarum	Respond to of 99985

Rob, i would tentatively agree that once the correction has run it's course the cyclicals may be the better opportunity. but that's a bridge i'll cross when we get there-it depends on several factors that are not yet quite clear. to enumerate: 1.asian recovery,for real or not? 2.commodity prices,bottomed out? 3.most importantly,are we still in a bull market? for all i know, a bear market may have started already. today's revelation that the bullishness of investment advisors has reached a 12-year high amidst the recent decline really gives me pause. what this essentially means is that the bulk of the decline lies still ahead of us, and it may be violent enough to finally kill the bull market. furthermore it will likely engulf the majority of stocks, even though the speculative issues are probably going to suffer most. if a corrective rally develops from here, i will regard it as a short-selling opportunity. i reserve the right to change my mind as opportunity demands. regards, hb